ChargePoint secures additional funding led by Siemens

Electric vehicle (EV) charging network supplier ChargePoint has secured an additional US$43 million in funding, led by Siemens, closing the US company’s latest funding round at US$125 million. The company had earlier secured US$82 million in its Series G round of US$82 million, led by Daimler.
July 3, 2017 Read time: 1 min

Electric vehicle (EV) charging network supplier 4825 ChargePoint has secured an additional US$43 million in funding, led by 189 Siemens, closing the US company’s latest funding round at US$125 million. The company had earlier secured US$82 million in its Series G round of US$82 million, led by 2069 Daimler.

The investment round will contribute to ongoing efforts to develop, with customers and complementary partners, a comprehensive EV charging network and enable ChargePoint’s full range of charging solutions for passenger cars, electric buses and trucks to be deployed across the region.

ChargePoint also announced the appointment of Ralf Christian, CEO of the Siemens Energy Management Division, to the company’s Board of Directors.

The new investment in ChargePoint is in line with Siemens’ general commitment to support the expansion of e-mobility in the European Union. As the market for e-mobility is expected to grow significantly, Siemens Energy Management sees a wider range of opportunities for future cooperation through complementary offerings addressing the full scope of its customers’ charging infrastructure needs.

For more information on companies in this article

Related Content

  • Traffic management market ‘worth US$16.89 billion by 2019’
    July 14, 2014
    A recent study by MarketdsandMarkets, Traffic Management Market by Solutions, Displays & Systems (Full Pedestrian, Parking Space and Toll Management, Above Ground Pedestrian and Vehicle Detection) - Global Advancements, Projects, Worldwide Forecast & Analysis (2014 - 2019) analysed and studied the major market drivers, restraints, and opportunities in North America, Western Europe, CIS and Eastern Europe, Middle East and Africa, Asia-Pacific and Latin America. The study reports that the traffic manageme
    Read More
  • ITS America applauds latest TIGER grants
    October 30, 2015
    US Transportation Secretary Anthony Foxx has announced US$500 million in TIGER (Transportation Investment Generating Economic Recovery) 2015 grants for 39 transportation projects in 34 states, some projects spanning several states. In selecting projects, Foxx prioritised the extent to which the proposed project strengthens access to opportunities through transportation improvements.
    Read More
  • Better websites build smarter transport participation
    March 17, 2017
    Transport initiatives are gaining traction through well-designed websites. Four European smart transport-oriented websites have gained honours in the 2016 .eu Web Awards, an online competition inaugurated in 2014 to recognise the most impressive sites within the .eu internet domain in terms of their design and content. The four were among 15 finalists across all five categories of the scheme, giving the transport sector a high profile for its proactive use of sites as communications tools for driving major
    Read More
  • 'Conservatism hampering ITS technical evolution'
    November 13, 2012
    Nick Lanigan, managing director of Clearview Traffic, considers the current outlook in the ITS sector from an SME's perspective. Interview with Jason Barnes. When times are hard, businesses can invest or cut. Either way, they need guidance from customers – governments – on where best to concentrate their efforts. Prolonged economic slowdown is currently an issue. A short recession, however sharp, would have left many industry players able to ride the bow-wave of governments’ multi-year spending on strategic
    Read More

Highlighted Content